InvestorQ : How do you see the latest quarterly results of IDFC and do you suggest buying into the stock?
Mary Joseph made post

How do you see the latest quarterly results of IDFC and do you suggest buying into the stock?

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sara Kunju answered.
2 months ago
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One of India’s dedicated infrastructure funding institutions, IDFC Ltd, saw a narrowing of its net loss for the Sep-20 quarter to Rs.147 crore. It may be recollected that IDFC had reported a massive net loss of Rs.407 crore in the corresponding Sep-19 quarter. Of course, the sequential numbers may not be exactly comparable due to the pandemic.

For the Sep-20 quarter, IDFC saw its total revenues grow by 41.4% to Rs.92 crore. This was managed through a sharper control over expenses which were cut by more than 18% on a yoy basis. There have also been some ownership changes in the group.

IDFC has already executed definitive agreements with Dharmesh Mehta of Enam-Axis and a clutch of investors for the sale of its entire investment in IDFC Securities. They have procured regulatory approvals and other formalities are also through.

However, due to the sale, IDFC Securities (Singapore) and IDFC Capital (USA) ceased to be subsidiaries of the group any longer. The Monetary Authority of Singapore or MAS, the Singapore financial markets regulator, has cancelled all relevant capital market services licence issued to IDFC group.

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